Stitch Fix (NASDAQ:SFIX) Issues Earnings Results, Beats Estimates By $0.04 EPS

Stitch Fix (NASDAQ:SFIX) released its earnings results on Wednesday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04, FiscalAI reports. The company had revenue of $324.42 million during the quarter, compared to analyst estimates of $325.50 million. Stitch Fix had a negative net margin of 1.43% and a negative return on equity of 9.35%.

Stitch Fix Price Performance

Shares of SFIX stock traded down $0.17 during trading hours on Wednesday, hitting $2.82. The stock had a trading volume of 6,762,642 shares, compared to its average volume of 1,983,039. The firm has a market capitalization of $376.27 million, a PE ratio of -35.25 and a beta of 2.27. The stock’s 50 day moving average is $3.46 and its 200 day moving average is $3.53. Stitch Fix has a twelve month low of $2.76 and a twelve month high of $5.74.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SFIX. UBS Group reduced their target price on Stitch Fix from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 2nd. Weiss Ratings upgraded shares of Stitch Fix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. Finally, Northland Securities initiated coverage on Stitch Fix in a research note on Thursday, May 28th. They set an “outperform” rating and a $5.00 target price for the company. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Insider Buying and Selling at Stitch Fix

In other news, CFO David Aufderhaar sold 67,960 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $3.79, for a total transaction of $257,568.40. Following the completion of the transaction, the chief financial officer directly owned 1,102,369 shares of the company’s stock, valued at $4,177,978.51. This trade represents a 5.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anthony Bacos sold 70,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $4.09, for a total value of $286,300.00. Following the transaction, the insider directly owned 951,994 shares in the company, valued at approximately $3,893,655.46. This represents a 6.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 487,971 shares of company stock valued at $1,900,517 in the last 90 days. Company insiders own 16.09% of the company’s stock.

About Stitch Fix

Stitch Fix, Inc is an online personal styling company that uses data science, personalization technology and human stylists to recommend apparel and accessories to customers. Its offerings include clothing, shoes and accessories across categories such as women’s, men’s and children’s apparel, with selections tailored to individual preferences, sizes, budgets and lifestyles.

The company’s primary service, traditionally known as a “Fix,” delivers a curated selection of items for customers to try at home, after which they can purchase the items they want and return the rest.